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November 8th, 2024 – TheNewswire – Muskoka, Ontario – Steadright Critical Minerals Inc. (CSE: SCM) (“Steadright” or the “Company”) announces that it will sell, through a definitive agreement, to Argyle Resources Corp. (CSE: ARGL) 23 high grade Silica Claims, known as the Saint Gabriel silica claims located in Saint Gabriel de Rimouski, Sainte Jeanne d’Arc and Sainte Angele de Merici Municipalities, La Mitis Regional County Municipality, Bas-Saint-Laurent Region of Quebec.
The Saint Gabriel Silica Project consists of twenty-three contiguous mining claims totalling 1,312.90 ha. and has a recent 2024 National Instrument 43-101 completed.
The terms of the mineral claim sale are as follows: $65,000 in cash and 300,000 common shares of the Argyle Resources Corp. The Consideration Shares will be subject to escrow restrictions under which 100,000 of the Consideration Shares will be released 4 months and 1 day following closing of the Acquisition (the “Closing”), 100,000 Consideration Shares will be released 6 months following Closing, and the remaining 100,000 Consideration Shares will be released 12 months following Closing and that the Claims are subject to a 2% net smelter returns royalty (the “Royalty”), one-half of which may be re-purchased by payment of $1,500,000.
Chairman and Director of Steadright, Mr. John Theobald states,” The Board of Directors of Steadright Critical Minerals has approved the Saint Gabriel Claims sale and are excited to have Argyle Resources team of professionals continue the exploration work on the Silica claims.”
ABOUT STREADRIGHT CRITICAL MINERALS INC.
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019. Steadright currently holds an option on its RAM property near Port Cartier, Quebec within the Côte-Nord Region, which is accessible by route 138. The RAM project is comprised of over 13,000 acres and located on an Anorthositic complex that is in a highly prospective geological unit and historically been under explored for Ni, Cu, Co and precious metals.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
John Theobald
Chairman & Director
Steadright Critical Minerals Inc.
Email: [email protected]
Web: www.steadright.ca
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Steadright to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: there is no certainty that the ongoing programs will result in significant or successful exploration and development of Steadright’s properties; uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability and terms of future financing on acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting Steadright; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Not for distribution to United States Newswire Services or for dissemination in the United States
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